Usha Martin Limited (USHAMART) - Net Assets

Latest as of September 2025: Rs29.65 Billion INR ≈ $320.63 Million USD

Based on the latest financial reports, Usha Martin Limited (USHAMART) has net assets worth Rs29.65 Billion INR (≈ $320.63 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs38.54 Billion ≈ $416.75 Million USD) and total liabilities (Rs8.89 Billion ≈ $96.12 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check USHAMART cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs29.65 Billion
% of Total Assets	76.94%
Annual Growth Rate	9.74%
5-Year Change	95.56%
10-Year Change	96.62%
Growth Volatility	22.06

Usha Martin Limited - Net Assets Trend (2005–2025)

This chart illustrates how Usha Martin Limited's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Usha Martin Limited for the complete picture of this company's asset base.

Annual Net Assets for Usha Martin Limited (2005–2025)

The table below shows the annual net assets of Usha Martin Limited from 2005 to 2025. For live valuation and market cap data, see market cap of Usha Martin Limited.

Year	Net Assets	Change
2025-03-31	Rs27.52 Billion ≈ $297.59 Million	+15.43%
2024-03-31	Rs23.84 Billion ≈ $257.81 Million	+17.14%
2023-03-31	Rs20.35 Billion ≈ $220.09 Million	+19.90%
2022-03-31	Rs16.97 Billion ≈ $183.56 Million	+20.63%
2021-03-31	Rs14.07 Billion ≈ $152.17 Million	+11.21%
2020-03-31	Rs12.65 Billion ≈ $136.83 Million	+55.36%
2019-03-31	Rs8.14 Billion ≈ $88.08 Million	+7.06%
2018-03-31	Rs7.61 Billion ≈ $82.27 Million	-22.28%
2017-03-31	Rs9.79 Billion ≈ $105.86 Million	-30.06%
2016-03-31	Rs14.00 Billion ≈ $151.35 Million	-21.84%
2015-03-31	Rs17.90 Billion ≈ $193.63 Million	-11.95%
2014-03-31	Rs20.33 Billion ≈ $219.91 Million	+3.84%
2013-03-31	Rs19.58 Billion ≈ $211.78 Million	+5.75%
2012-03-31	Rs18.52 Billion ≈ $200.26 Million	+2.77%
2011-03-31	Rs18.02 Billion ≈ $194.86 Million	+5.76%
2010-03-31	Rs17.04 Billion ≈ $184.26 Million	+47.77%
2009-03-31	Rs11.53 Billion ≈ $124.69 Million	+17.56%
2008-03-31	Rs9.81 Billion ≈ $106.07 Million	+24.40%
2007-03-31	Rs7.88 Billion ≈ $85.27 Million	+26.98%
2006-03-31	Rs6.21 Billion ≈ $67.15 Million	+44.75%
2005-03-31	Rs4.29 Billion ≈ $46.39 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Usha Martin Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 1791290000000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2025)

Component	Amount	Percentage
Retained Earnings	Rs17.91 Billion	65.09%
Common Stock	Rs305.20 Million	1.11%
Other Comprehensive Income	Rs7.91 Billion	28.73%
Other Components	Rs1.40 Billion	5.07%
Total Equity	Rs27.52 Billion	100.00%

Usha Martin Limited Competitors by Market Cap

The table below lists competitors of Usha Martin Limited ranked by their market capitalization.

Company	Market Cap
Orizon Valorização de Resíduos S.A SA:ORVR3	$1.56 Billion
Jiangsu Favored Nanotechnology Co. Ltd. A SHG:688371	$1.56 Billion
Guangzhou Risong Intelligent Technology Holding Co Ltd SHG:688090	$1.56 Billion
Sienna Senior Living Inc TO:SIA	$1.56 Billion
Selcuk Ecza Deposu Ticaret ve Sanayi AS IS:SELEC	$1.56 Billion
Hope Bancorp Inc NASDAQ:HOPE	$1.56 Billion
Nongshim KO:004370	$1.56 Billion
Quantum Computing Inc NASDAQ:QUBT	$1.56 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Usha Martin Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 23,796,700,000 to 27,518,800,000, a change of 3,722,100,000 (15.6%).
Net income of 4,073,900,000 contributed positively to equity growth.
Dividend payments of 838,000,000 reduced retained earnings.
Share repurchases of 65,200,000 reduced equity.
Other comprehensive income increased equity by 5,947,900,001.
Other factors decreased equity by 5,396,500,001.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Rs4.07 Billion	+14.8%
Dividends Paid	Rs838.00 Million	-3.05%
Share Repurchases	Rs65.20 Million	-0.24%
Other Comprehensive Income	Rs5.95 Billion	+21.61%
Other Changes	Rs-5.40 Billion	-19.61%
Total Change	Rs-	15.64%

Book Value vs Market Value Analysis

This analysis compares Usha Martin Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 5.24x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has increased from 4.16x to 5.24x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-03-31	Rs113.76	Rs472.85	x
2006-03-31	Rs150.88	Rs472.85	x
2007-03-31	Rs171.32	Rs472.85	x
2008-03-31	Rs38.51	Rs472.85	x
2009-03-31	Rs45.41	Rs472.85	x
2010-03-31	Rs64.69	Rs472.85	x
2011-03-31	Rs58.55	Rs472.85	x
2012-03-31	Rs60.06	Rs472.85	x
2013-03-31	Rs63.51	Rs472.85	x
2014-03-31	Rs65.72	Rs472.85	x
2015-03-31	Rs57.72	Rs472.85	x
2016-03-31	Rs44.80	Rs472.85	x
2017-03-31	Rs31.01	Rs472.85	x
2018-03-31	Rs23.86	Rs472.85	x
2019-03-31	Rs25.66	Rs472.85	x
2020-03-31	Rs40.28	Rs472.85	x
2021-03-31	Rs46.06	Rs472.85	x
2022-03-31	Rs55.58	Rs472.85	x
2023-03-31	Rs66.64	Rs472.85	x
2024-03-31	Rs78.09	Rs472.85	x
2025-03-31	Rs90.31	Rs472.85	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Usha Martin Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 14.80%
The company shows good efficiency in utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 11.73%
• Asset Turnover: 0.93x
• Equity Multiplier: 1.36x
Recent ROE (14.80%) is above the historical average (4.06%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	11.96%	3.25%	0.73x	5.06x	Rs82.55 Million
2006	14.00%	4.74%	0.84x	3.53x	Rs243.98 Million
2007	17.87%	7.06%	0.79x	3.22x	Rs611.32 Million
2008	18.21%	7.64%	0.69x	3.45x	Rs795.62 Million
2009	16.58%	6.39%	0.72x	3.63x	Rs747.28 Million
2010	10.16%	6.82%	0.53x	2.80x	Rs27.66 Million
2011	7.85%	4.60%	0.55x	3.10x	Rs-384.00 Million
2012	0.36%	0.20%	0.50x	3.66x	Rs-1.76 Billion
2013	4.07%	2.18%	0.46x	4.05x	Rs-1.15 Billion
2014	-12.64%	-5.55%	0.53x	4.32x	Rs-4.53 Billion
2015	-14.39%	-5.55%	0.55x	4.72x	Rs-4.29 Billion
2016	-31.48%	-10.45%	0.53x	5.70x	Rs-5.66 Billion
2017	-37.98%	-9.25%	0.50x	8.19x	Rs-4.53 Billion
2018	-37.31%	-13.02%	0.28x	10.25x	Rs-3.44 Billion
2019	6.14%	1.93%	0.35x	8.97x	Rs-302.21 Million
2020	34.12%	19.45%	0.84x	2.09x	Rs2.96 Billion
2021	10.66%	7.13%	0.81x	1.86x	Rs92.40 Million
2022	17.20%	10.84%	0.98x	1.62x	Rs1.22 Billion
2023	17.24%	10.71%	1.06x	1.52x	Rs1.47 Billion
2024	17.82%	13.15%	0.97x	1.40x	Rs1.86 Billion
2025	14.80%	11.73%	0.93x	1.36x	Rs1.32 Billion

Industry Comparison

This section compares Usha Martin Limited's net assets metrics with peer companies in the Steel industry.

Industry Context

Industry: Steel
Average net assets among peers: $1,180,730,424
Average return on equity (ROE) among peers: 7.34%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Usha Martin Limited (USHAMART)	Rs29.65 Billion	11.96%	0.30x	$1.56 Billion
Ankit Metal & Power Limited (ANKITMETAL)	$3.09 Billion	-62.57%	5.34x	$2.44 Million
APL Apollo Tubes Limited (APLAPOLLO)	$155.16 Million	43.49%	4.18x	$5.93 Billion
Bansal Wire Industries Ltd (BANSALWIRE)	$2.83 Billion	21.21%	1.65x	$540.27 Million
Bedmutha Industries Limited (BEDMUTHA)	$-912.49 Million	0.00%	0.00x	$38.82 Million
Bharat Wire Ropes Limited (BHARATWIRE)	$222.58 Million	9.47%	2.22x	$186.01 Million
Electrotherm (India) Limited (ELECTHERM)	$2.19 Billion	19.75%	2.74x	$104.53 Million
Grand Foundry Limited (GFSTEELS)	$-70.86 Million	0.00%	0.00x	$4.07 Million
Goodluck India Limited (GOODLUCK)	$2.10 Billion	15.61%	2.20x	$513.17 Million
Godawari Power And Ispat limited (GPIL)	$2.07 Billion	26.10%	1.64x	$2.06 Billion
Hariom Pipe Industries Limited (HARIOMPIPE)	$133.55 Million	0.35%	1.68x	$114.23 Million

About Usha Martin Limited

NSE:USHAMART India Steel

Market Cap

$1.56 Billion

Rs143.94 Billion INR

Market Cap Rank

#7295 Global

#338 in India

Share Price

Rs472.85

Change (1 day)

-0.95%

52-Week Range

Rs306.15 - Rs481.60

All Time High

Rs481.60